Risk Sleuth
HSIC · 10-K filed 24 Feb 2026 · year to 27 Dec 2025

Henry Schein

30 named things its latest annual report says its results depend on, each in the company's own words. 19 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Group Purchasing Organizations and Dental Service Organizations

earns fromnamed as a risk
The multi-tiered costing structure continues to expand as many large integrated health care providers and others with significant purchasing power, such as GPOs, DSOs and MSOs, demand more favorable pricing terms.Risk factors (Item 1A)

Suppliers

Third-party delivery services

depends onnamed as a risk
We ship almost all of our orders through third-party delivery services, and typically bear the cost of shipment.Risk factors (Item 1A)

Also named by CAVA, MCD, QSR

Partners and platforms

KKR & Co. Inc.

$250 millionnamed as a risk
On May16, 2025, we issued 3,285,151 shares of common stock to funds affiliated with KKR for an investment of $250 million, at approximately $76.10 per share.Risk factors (Item 1A)

Also named by FSK

Other companies

U.S. trade accounts receivable securitization

$390 million
As of December 27, 2025, the commercial paper rate was 4.06% plus 0.75%, for a combined rate of 4.81%, and the outstanding balance under this securitization facility was $390 million.Market risk (Item 7A)

Competitors

McKesson Corporation

competes with
Our primary competitors in the U.S. medical distribution market, which accounts for the large majority of our global medical sales, are McKesson Corporation and Medline Industries, Inc., which are national distributors.Business (Item 1)

Also named by ABBV, AMGN, CAH, COR, GILD, HALO, HROW, LLY and 1 more

Medline Industries, Inc.

competes with
Our primary competitors in the U.S. medical distribution market, which accounts for the large majority of our global medical sales, are McKesson Corporation and Medline Industries, Inc., which are national distributors.Business (Item 1)

Also named by CAH

Dentsply Sirona

competes with
Within Global Specialty Products, our primary global competitors include Straumann, Envista, Zimvie, and Dentsply Sirona for dental implants.Business (Item 1)

Also named by SOLV

Patterson Companies, Inc.

competes with
In the dental distribution market, our primary competitors in the U.S. are the Patterson Dental division of Patterson Companies, Inc. and Benco Dental Supply Company.Business (Item 1)

Benco Dental Supply Company

competes with
In the dental distribution market, our primary competitors in the U.S. are the Patterson Dental division of Patterson Companies, Inc. and Benco Dental Supply Company.Business (Item 1)

Straumann

competes with
Within Global Specialty Products, our primary global competitors include Straumann, Envista, Zimvie, and Dentsply Sirona for dental implants.Business (Item 1)

Envista

competes with
Within Global Specialty Products, our primary global competitors include Straumann, Envista, Zimvie, and Dentsply Sirona for dental implants.Business (Item 1)

Zimvie

competes with
Within Global Specialty Products, our primary global competitors include Straumann, Envista, Zimvie, and Dentsply Sirona for dental implants.Business (Item 1)

Places

United States

concentrated in
The majority of our revenue is generated in the United States market, with the remaining revenue coming from Canada and countries in Latin America, Europe and Asia Pacific region.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Hazards

October 2023 cybersecurity incident

named as a risk
Nevertheless, the October 2023 cybersecurity incident disrupted key business operations, adversely impacted our financial results for the fourth quarter and full year 2023, diverted attention of management, and caused the Company to incur significant remediation costs.Risk factors (Item 1A)

Commodities and inputs

Euro

exposed to its price · €300 millionnamed as a risk
A 5% increase in the value of the Euro to the USD from December 27, 2025 would decrease the fair value of these forward contracts by $18 million.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Influenza vaccine

earns from
Sales and profitability generally have been higher in the third and fourth quarters due to the timing of sales of seasonal products (including influenza vaccine), purchasing patterns of office-based health care practitioners for certain products (including equipment and software) and year-end promotions.Business (Item 1)

Regulators

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk
For example, some of our imaging software is regulated as a medical device which subjects our businesses to substantial additional requirements, costs and potential enforcement actions or liabilities for noncompliance with respect to these products.Risk factors (Item 1A)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

Centers for Medicare & Medicaid Services (CMS)

subject tonamed as a risk
The FDA, DEA, OCR, and state privacy regulators, as well as CMS (including with respect to complex Medicare reimbursement requirements applicable to our specialty home medical supplies business) and state Medicaid agencies, have recently increased their regulatory and enforcement activities and, in particular, the DEA has heightened enforcement activities due to the opioid crisis in the United States.Risk factors (Item 1A)

Also named by A, ABT, AMGN, AXGN, BAX, BWIN, CNC, COO and 23 more

U.S. Drug Enforcement Administration (DEA)

subject tonamed as a risk
As a distributor of controlled substances and List 1 and 2 chemicals, we are required, under the Controlled Substances Act, to obtain and renew annually registrations for our facilities from the United States Drug Enforcement Administration ("DEA") permitting us to handle controlled substances.Business (Item 1)

Also named by CAH, COR, DGX, DHR, HALO, IQV, LH, MCK and 7 more

Laws and programs

Cures Act information blocking rule (HHS-OIG)

subject to · $1 million penaltynamed as a risk
Each information blocking violation carries a $1 million penalty.Risk factors (Item 1A)

U.S. tariffs

subject tonamed as a risk
In recent periods, we have experienced increased costs due to labor cost increases, source of supply, and tariffs, which may have had a negative impact on our profit margins.Business (Item 1)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

One Big Beautiful Bill Act

subject tonamed as a risk
It is possible that the adoption of the One Big Beautiful Bill Act could impact eligibility for participation in Medicare and Medicaid programs, resulting in a change in utilization of the health care system.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

Medicare

earns fromnamed as a risk
In addition, with respect to our specialty home medical supplies business, we are subject to certain state licensure laws (including state pharmacy laws), and also certain accreditation standards, including to qualify for reimbursement from Medicare, Medicaid, and other third-party payers.Business (Item 1)

Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, BSX, CAH and 48 more

Medicaid

earns fromnamed as a risk
Non-compliance with government requirements could also adversely affect our ability to participate in important federal and state government health care programs, such as Medicare and Medicaid, and damage our reputation.Risk factors (Item 1A)

Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, BSX, CHE and 39 more

Inflation Reduction Act of 2022

subject tonamed as a risk
These various evolving efforts create uncertainty and may adversely affect our business.Risk factors (Item 1A)

Also named by ABBV, APD, ARE, BKH, DD, DHR, ELV, ENPH and 30 more

HIPAA

subject tonamed as a risk
These customers and we are subject to laws, regulations and industry standards, such as HIPAA and the Payment Card Industry (PCI) Data Security Standards, which require the protection of the privacy and security of those records.Risk factors (Item 1A)

Also named by AFL, BAX, BBSI, CI, DHR, DOC, DOCN, DOCU and 19 more

EU Medical Device Regulation (EU MDR)

subject tonamed as a risk
The modifications created by the EU MDR may have an impact on the way we design and manufacture products and the way we conduct our business in the EEA.Risk factors (Item 1A)

Also named by ABBV, BAX, BDX, BSX, CAH, COO, DXCM, EW and 4 more

Corporate Sustainability Reporting Directive (CSRD)

subject tonamed as a risk
This "Omnibus" legislative package amending the CSRD alters the scope, thresholds, timing and contents of reporting obligations, which may increase our costs.Risk factors (Item 1A)

Also named by ARCC, FLR, FLS, GTX, JLL, NVT, SNA, SYY

MIPS / certified EHR program (CMS and ONC)

subject tonamed as a risk
If any of our EHR systems do not meet these standards, yet have been relied upon by health care providers to receive federal incentive payments, we may be exposed to risk, such as under federal health care fraud and abuse laws, including the False Claims Act.Business (Item 1)

Drug Supply Chain Security Act (DSCSA)

subject to
The DSCSA requires that wholesalers and 3PLs distribute drugs in accordance with certain standards regarding the recordkeeping, storage and handling of prescription drugs.Business (Item 1)

Also named by CAH, COR, EXEL, MCK